Tuesday, June 7, 2011
Friday, June 3, 2011
Bush Tax Cuts After Ten Years Will Nearly Double Budget Deficit if Continued, Mostly Benefit the Rich #p2 #tcot
pdf: http://www.ctj.org/bushtaxcuts10yrs/us.pdf
Impacts on People in Your State
State Fact Sheets and Analyses from Citizens for Tax Justice
Ten years ago, on June 7, 2001, President George W. Bush signed into law the first of several tax cuts that drove the balanced budget he inherited from President Clinton deep into the red. Last year, Congressional supporters of Bush's policies pushed through an extension of these tax cuts through the end of 2012.
Many lawmakers want to extend the Bush tax cuts again into 2013 and beyond, which would almost double the federal budget deficit.
The Bush Tax Cuts' Impact on U.S. Taxpayers
(figures for all U.S. taxpayers)
You can also click on your state below to see a fact sheet on how these two approaches would affect people in your state here http://www.ctj.org/bushtaxcuts10yrs.php
Today’s employment report should be a wake-up call to policymakers - see report #p2 #tcot
Statement: Chad Stone, Chief Economist, on the May Employment Report
By Chad Stone
"Today's employment report should be a wake-up call to policymakers who continue to say the budget deficit is a more immediate threat to the economy than the jobs deficit. Nearly two years after the economy technically turned the corner from recession to recovery, job growth was disappointing in May and unemployment remained high. At the same time, interest rates are very low (see chart), indicating that financial markets are far more concerned in the near term about a sluggish recovery than about deficits, debt, or inflation.

"You wouldn't know that from the current debate in Washington, which is focused largely on the size of budget cuts that must accompany legislation to raise the federal debt ceiling in order to secure the votes of enough members of Congress. Lawmakers must raise the debt ceiling so that the United States does not default on its obligations arising from tax and spending legislation that was previously enacted. If implemented now, those budget cuts would drain purchasing power from the economy at a time when the recovery is already losing momentum and forecasters expect another quarter of sluggish growth.
"Adding insult to injury, a number of states have cut or are thinking about cutting the number of weeks of unemployment insurance (UI) they will provide to newly unemployed workers, while congressional Republicans have proposed legislation that would allow states to prematurely end federal benefits for the long-term unemployed. UI is one of the most effective means of boosting demand in a weak economy, and cutting UI benefits will be a drag on an already flagging economic recovery."
View the full statement:
http://www.cbpp.org/cms/index.cfm?fa=view&id=3507
http://www.cbpp.org/files/6-3-11ui-stmt.pdf 3pp.
Thursday, June 2, 2011
Palin slams DREAM Act during Ellis Island visit #p2 #tcot
Former Republican vice presidential candidate Sarah Palin celebrated her visit to Ellis Island Wednesday by attacking legislation that would give undocumented children a chance to stay in the country.
Ellis Island is "one of the symbols of course of our country, and it's a reminder too that immigrants built this country," Politico quoted Palin as saying. "So we want to make sure that we're highlighting that on our bus tour, maybe so that the present day immigrants know how much we appreciate them and their work ethic, and their love of country and freedom."
But the Fox News employee, who has hinted at a 2012 presidential run, suggested that her appreciation for immigrants didn't extend to the Development, Relief and Education for Alien Minors (DREAM) Act. That legislation would allow for young immigrants who graduate from U.S. high schools to stay in the country if they serve two years in the military or acquire a four-year college degree.
"The immigrants of the past, they had to literally and figuratively stand in line to become U.S. citizens. I'd like to see that continue," Palin said. "And unfortunately, the DREAM Act kind of usurps that-the system that is a legal system to make sure that immigrants who want to be here legally, working hard, producing and supplying revenue and resources for their families, that they're able to do that right and legally. Unfortunately, the DREAM Act doesn't accomplish that."
Perhaps Palin didn't realize that the path to becoming a citizen was much simpler during the 62 years that Ellis Island was in operation.
Over a two-minute period, immigrants were asked 29 questions. Those that were approved, spent less than five hours on the island.
Today's immigration process takes years."Had she and the family taken to standard tour they would have known that," liberal blogger Digby noted. "They would also know that the DREAM Act refers to human beings who had no choice in the fact and were brought here as babies and children and grew up just like her precious little ones as Americans. They had no more choice in the matter than her children did."
"What kind of a person can't at least summon up some compassion for these kids?"
Watch this video from USA Today, broadcast June 1, 2011.